Kathmandu. Sanima General Insurance Company and Reliance Life Insurance Company are going to issue IPO. He has applied to the Securities and Exchange Board for issuance of IPO.

Reliance Life Insurance Company is in the process of issuing an IPO worth Rs 630 million at a face value of Rs 100, which is 30 percent of the existing capital. Sanima Capital is the IPO issuer and sales manager. ICRA Nepal has given a grade 4 rate to the IPO that the company is about to issue.

The current authorized capital of the company is Rs 3 billion and issued capital is Rs 2.10 billion. The company, which has already maintained paid-up capital of Rs 1.47 billion from the founding shareholders, is about to issue an IPO worth Rs 630 million.

Similarly, Sanima General Insurance Company Nepal Limited has sought permission from the board to issue 3 million shares equal to Rs 300 million at a face value of Rs 100 per share. The sales manager is NIC Asia Capital.

Care Rating Nepal has given the company's IPO a moderate Care NP BB Plus rating.